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News Network Q1 loss narrows YOY

News Network Corporation PCL said its normalized net income for the first quarter came to a loss of 89.4 million baht, compared with a loss of 114.4 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 173.5% from negative 248.0% in the year-earlier period.

Total revenue increased 11.7% on an annual basis to 51.5 million baht from 46.1 million baht, and total operating expenses declined 17.4% on an annual basis to 190.9 million baht from 231.1 million baht.

Reported net income totaled a loss of 143.3 million baht, or a loss of 0 satang per share, compared to a loss of 183.2 million baht, or a loss of 1 satang per share, in the prior-year period.

As of May 16, US$1 was equivalent to 35.39 baht.